Friends Of Puerto Rico
- Assets
- $680.3k
- Revenue
- $754.9k
- Investments
- $0.0
- Employees
- 13
- Location
- Washington, DC
- Founding
- 02/2016
- Data as of
- 12/2023
- EIN
- 81-1143995
Organization Overview
Friends Of Puerto Rico is located in Washington, DC. The organization was established in 2016. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Friends Of Puerto Rico employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Puerto Rico is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Friends Of Puerto Rico generated $754.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (15.9%) each year. All expenses for the organization totaled $634.2k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (13.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
FRIENDS OF PUERTO RICO IS A NON-PROFIT 501(C)(3) THAT SUPPORTS THE ECONOMIC DEVELOPMENT OF THE PEOPLE OF PUERTO RICO THROUGH ENTREPRENEURIAL INITIATIVES, EDUCATION, AND CREATING OPPORTUNITIES FOR WOMEN AND GIRLS. SINCE 2015, WE HAVE MOBILIZED A PASSIONATE COMMUNITY OF OVER 30,000
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE WORK WITH AT RISK YOUTH TO CREATE OPPORTUNITY AND DEVELOP THE NEXT GENERATION OF LEADERS AND ENTREPRENEURS IN PUERTO RICO.FRIENDS OF PUERTO RICO IS A NON-PROFIT 501(C)(3) THAT SUPPORTS THE ECONOMIC DEVELOPMENT OF THE PEOPLE OF PUERTO RICO THROUGH ENTREPRENEURIAL INITIATIVES, EDUCATION, AND CREATING OPPORTUNITIES FOR WOMEN AND GIRLS. SINCE 2015, WE HAVE MOBILIZED A PASSIONATE COMMUNITY OF OVER 30,000 GLOBAL ENTREPRENEURS, DONORS AND PARTNER ORGANIZATIONS FOCUSED ON DRIVING ECONOMIC SUCCESS AND INNOVATION TO CULTIVATE THE NEXT GENERATION OF LEADERS. THROUGH A COMBINATION OF TRAINING, EDUCATION AND MENTORSHIP INITIATIVES THAT UTILIZE THE BEAUTIFUL CULTURE, ART AND PEOPLE OF PUERTO RICO, OUR GOAL IS TO END FINANCIAL HARDSHIP AND PROVIDE ECONOMIC OPPORTUNITIES AND SELF-SUFFICIENCY FOR PEOPLE ON THE ISLAND, IN WASHINGTON, DC AND AROUND THE UNITED STATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ingrid Arvelo Director | Trustee | 2 | $0 |
Juan Garcia Treasurer | Trustee | 5 | $0 |
Angelique Sina President | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $197,452 |
| All other contributions, gifts, grants, and similar amounts not included above | $390,420 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $587,872 |
| Total Program Service Revenue | $153,254 |
| Investment income | $3,943 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $754,869 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,517 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $121,305 |
| Compensation of current officers, directors, key employees. | $48,522 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $108,097 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $20,371 |
| Fees for services: Management | $135,208 |
| Fees for services: Legal | $335 |
| Fees for services: Accounting | $4,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,398 |
| Advertising and promotion | $6,251 |
| Office expenses | $31,760 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,698 |
| Travel | $35,086 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,395 |
| Interest | $18,815 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,538 |
| All other expenses | $67,650 |
| Total functional expenses | $634,215 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $199,259 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $238,911 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $242,163 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $680,333 |
| Accounts payable and accrued expenses | $50,804 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $488,068 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $538,872 |
| Net assets without donor restrictions | $141,461 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $680,333 |